While witty, there is no basis for this theory. The Boomers solidly and vociferously rejected the music of their parents, but when their children do the same thing they tell them "you don't know good music." That hypocritical dog won't hunt. I get there will never be another Beatles, not because they were that good but because its been done; you can't have an epic shift in a style of music like that more than once. Jimi Hendrix changed the game of guitar playing, but is NOT the be all end of all guitar players. I'll go a step further and say Jaco was a very good bass player, but he isn't the end of the bass nor has he set the tone for all bass playing.
Here's the deal: When you are a certain age, the music you hear at that age when you are "growing up" is what is good to you. So no, it isn't that my music sucks, you really are old.
As to how this relates to the OP, there is a real problem with the fact newer music doesn't reach all audiences. After the initial break of "rock" into the mainstream it diversified into increasingly niche groups. Its easy to agree on the Zeppelin, the Beatles, the Who, Rolling Stones, Kinks, Heart, etc because by today's standards they are vanilla, simple, and easy listening. Pop became more electronic, which doesn't work well for live bands, and rock got heavier and more aggressive, which might put off some audiences, specially sclerotic Boomers. However if, as the OP suggests, bands stop being lazy, dig through their 80s and 90s tunes, they may find some stuff that will work in live settings. It could be done it just might take some work.
I didn't like my parents' music much. It was radically different from mine. Their music had no electric guitars, the drums were pretty light in the mix; no big thudding kick drum; and it was, in no way, rock and roll.
I liked some of it! I liked the same Classical music they did, and I liked quite a bit of the big band era swing. That being said, I didn't really RELATE to it.
Now as far as I can tell, the music the kids listen to now is almost EXACTLY the same as what I listened to, with a few exceptions.
MOST modern country sounds like Classic Rock, for the most part; the difference usually being the style of the vocals, and the lyrical content.
MOST modern rock sounds like Classic Rock, for the most part; the difference usually being more lows in the low end (drop tunings,) fatter bottom end in the guitars, and oftentimes a little less melodic, or more droning.
Rap is a lot different. It sometimes has samples of Classic Rock, but more often steals from Stevie Wonder, or other classic R&B, and has a major difference, in that the vocals are spoken word. It still has big bass and drums, and has as many similarities as differences from "my" music.
Many times, kids tell me I will just love a new band, and I listen to that band, and that band sounds exactly like a band I already listen to. There is not a lot new in the world of Rock Music, especially POPULAR Rock Music.
So the dog hunts a little bit. You can't love Oasis, and not like anything by the Beatles. (I realize that Oasis were 90's, but this was the same deal back then.
I don't remember the name of the band, but I listened to them, and thought I was listening to a lost album by T. Rex.
In the eighties, many bands sounded just like Bowie. Many hard rock bands sounded a lot like Led Zeppelin. Even more sounded like Van Halen.
INXS and Billy Idol sounded a good bit like the Doors, etc. etc. etc.
And that's why we play the songs we play. They are good rock songs, and we play them with enthusiasm, and our audience, be they old like us, getting old, or young, often respond well. I posted a video a few weeks ago that showed a bunch of 20 somethings being absolutely amazed by Voodoo Child (slight return.)
I don't tell anyone "you don't know good music," or honestly believe ANYONE'S music "sucks."
If you like it, it is getting through to someone, so good for it, and good for you.
But I haven't decided to give up on playing the music I love just yet, and I would feel damn silly trying to play the newest thing at my age. If I don't relate to it, I'm not playing it.